Stock Market LIVE: Sensex, Nifty Trade Higher As Infosys, TCS Shares Lead

JK Paper, West Coast, and Tamil Nadu Newsprint share prices advanced in Monday's session.

(Photo: Freepik)

Good morning, welcome to NDTV Profit's blog for live market coverage. The NSE Nifty 50 opened higher. The index will face resistance at 25,000. The NSE Nifty emerged as the top performing sectoral index as Infosys Ltd. and Tata Consultancy Services Ltd. shares led.
LIVE FEED

Stock Market LIVE: PTC Industries Appoints New VP For Its Aerospace Castings

PTC Industries Ltd. appointed Baljinder Singh Koura as vice president of operations, Aerospace Castings at Aerolloy Technologies, the company said in the exchange filing.

Stock Market LIVE: Reliance Power Share Hit Lower Circuit

Reliance Power Ltd. hit a lower circuit of 5% and fell to Rs 46.46 apiece. It remained locked in the 10:40 a.m.

Stock Market LIVE: JK Paper, West Coast And Tamil Nadu Share Prices Advance

In Monday's session, paper producing companies' stocks advanced. JK Paper Ltd., West Coast Paper Mills Ltd., and Tamil Nadu News Print And Paper share prices advanced.

Stock Market LIVE: Mazagon Dock Shares Rise After Positive Update On Mega Project 75 Submarine Order

Shares of Mazagon Dock Shipbuilders Ltd. rose during early trading on Monday after the Central government gave clearance to the Defence Ministry to begin negotiations for the Rs 70,000 crore deal to buy six submarines to be built in India with German support under 'Project 75 India'.

Also Read: Mazagon Dock Shares Rise After Positive Update On Mega Project 75 Submarine Order

Stock Market LIVE: Cantor On Ambuja Cement

  • Initiate overweight with target price of Rs 745

  • From a Regional Leader to a Pan-Indian Champion

  • Transforming the Cement Industry

  • Enhancing its cost leadership through various initiatives

  • Alongside plans to reduce raw material costs by 8-10%

  • Believe Ambuja's shares could trade at an 18.5x in bull case scenario, resulting in a price of Rs 1,000

Profit Exclusive: GST Rate Rollout By Around Sep 22 To Boost Festive Demand

  • Implementation of New GST Rates Likely by around September 22

  • Rollout expected to coincide with Navratri, starting September 22

  • Notifications to begin rolling out 5–7 days after Council’s decision

Alert: All-Powerful GST Council to Meet on September 3–4 in Delhi

Alert: To decide on Centre’s simplified 2-slab proposal: 5% & 18%

Source: People In The Know

Sectoral Indices At Open: Nifty IT Outperforms

On National Stock Exchange, 12 sectoral indices opened higher, three declined out of 15.

Nifty Contributors: Infosys, RIL Support Gains 

Infosys Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Larsen & Toubro Ltd., and Mahindra & Mahindra Ltd. added to the NSE Nifty 50 index.

HDFC Bank Ltd., Bajaj Finserve Ltd., and ICICI Bank Ltd. limited losses.

Stock Market Today: Nifty, Sensex Open Higher 

The NSE Nifty 50 and BSE Sensex opened higher tracking a rise in Infosys Ltd., and Reliance Industries Ltd. share prices. The indices were trading 0.22% and 0.30% higher, respectively as of 9:21 a.m.

Yield On 10-Year Bond Opens Flat

  • The yield on the 10-year bond opened flat at 6.54%

Source: Bloomberg

Rupee Opens Stronger Against US Dollar

  • Rupee opened 7 paise stronger against US dollar at 87.40

  • It closed at 87.53 a dollar on Friday

Source: Bloomberg

Bajaj Finance Among Jefferies’ Top NBFC Stock Pick, 23% Upside Potential Eyed

Bajaj Finance has emerged as one of Jefferies's top picks in the consumer finance space, with brokerage assigning a 'Buy' rating and a target price of Rs 1,100 implying a 23% upside from the current level. Jefferies said, “BAF is among a handful of lending platforms that are large by market cap ($64bn), that are able to grow over 20% and deliver near 20% ROE.”

Also Read: Bajaj Finance Among Jefferies’ Top NBFC Stock Pick, 23% Upside Potential Eyed—Here's Why

Divi's Labs Shares In Focus As Jefferies Upgrades To 'Buy', Eyes 16% Upside On Sustained Growth Momentum

Divi's Laboratories Ltd. share price will be in focus on Aug. 25 after global brokerage Jefferies upgraded the stock to 'Buy' as it expects that growth momentum will continue. Custom synthesis segment and new launches will support the pharma major's growth. The brokerage has given a target price of Rs 7,150 apiece, which implied 16.18% upside from Friday's close.

Also Read: Divi's Labs Shares In Focus As Jefferies Upgrades To 'Buy', Eyes 16% Upside On Sustained Growth Momentum

HDFC Bank Bonus Issue: Last Day To Buy Shares To Qualify Before Record Date — Check Details

HDFC Bank Ltd. will be on the market radar on Monday as it marks the last session for investors to buy shares to qualify for the bonus issue of shares ahead of the record date.

Also Read: HDFC Bank Bonus Issue: Last Day To Buy Shares To Qualify Before Record Date — Check Details

ITC Hotels Gets 'Sell' From JM Financial On Restricted Growth, Stretched Valuations — Check Target Price

ITC Hotels Ltd. received a 'sell' initiation from JM Financial as it sees stretched valuations and restricted near-term growth. "Having developed a strong portfolio of owned assets over the last two decades, the ITC Hotels has an asset-light pipeline to further expand its footprint to over 200 hotels and 20,000 keys by 2030," analysts said in a note.

Also Read: ITC Hotels Gets 'Sell' From JM Financial On Restricted Growth, Stretched Valuations — Check Target Price

Stock Market LIVE: Godrej Properties Sells Home Worth Rs 1,000 Crore

Godrej Properties has sold homes worth Rs 1,000 crore at the launch of Godrej Regal Pavillion in Hyderabad. The estimated revenue potential of Godrej Regal Pavillion is at 3,600 crore.

IPO News: Amanta Healthcare IPO Price Band Set At Rs 120-126 Per Share

Amanta Healthcare Ltd. will offer shares in the range of Rs 120-126 per share for the upcoming initial public offering next week. The IPO will open for bidding in the primary market on Monday, Sept.1, and close on Wednesday, Sept. 3.

The IPO consists entirely of a fresh issue of 1.25 crore equity shares.

Also Read: Amanta Healthcare IPO Price Band Set At Rs 120-126 Per Share

Asia Market LIVE Update: Hang Seng & CSI 300 Jump Over 1% Amid Hopes Of US Fed Rate Cut 

Asia-Pacific share indices were trading higher, tracking gains on Wall Street. US Federal Reserve Chair Jerome Powell's remarks had an hint of rate cut as early as in September.

The Hang Seng and CSI 300 were trading 1.61% and 1.15% higher, respectively as of 7:57 a.m.

Also Read: Asian Stocks Rise As Powell Signals Fed Will Cut: Markets Wrap

LIVE: GIFT Nifty Hints At Positive Opening; Bajaj Auto, IndiGo, Max Healthcare In Focus

The GIFT Nifty was trading 0.08% or 19.50 points lower at 24,978.00 as of 6:56 a.m. This implies the NSE Nifty 50 index may open 77 points higher as the GIFT Nifty levels stand higher than the benchmark's last close.

Traders will keep an eye on InterGlobe Aviation Ltd., Max Healthcare Institute Ltd., Bajaj Auto Ltd., Welspun Corp Ltd., and SJVN Ltd.

The benchmark equity indices closed in the red on Friday.

The NSE Nifty 50 closed 0.85% lower at 24,870.10, and the BSE Sensex closed 0.85% down at 81,306.85.

Also Read: Stock Market Highlights: Nifty, Sensex Log Longest Winning Streak Since April

Watch LIVE TV, Get Stock Market Updates, Top Business, IPO and Latest News on NDTV Profit. Feel free to Add NDTV Profit as trusted source on Google.
WRITTEN BY
Ananya Chaudhuri
Ananya Chaudhuri covers financial markets news and trends at NDTV Profit. S... more
GET REGULAR UPDATES
Add us to your Preferences
Set as your preferred source on Google